Cinemark (NYSE:CNK) Stock Passes Above 200 Day Moving Average – Should You Sell?

Cinemark Holdings Inc (NYSE:CNKGet Free Report)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.64 and traded as high as $29.95. Cinemark shares last traded at $29.3670, with a volume of 2,077,374 shares traded.

Wall Street Analyst Weigh In

CNK has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Cinemark in a report on Wednesday, June 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 price objective (down from $36.00) on shares of Cinemark in a report on Thursday. Morgan Stanley raised their target price on shares of Cinemark from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 9th. Benchmark boosted their price target on shares of Cinemark from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Finally, Zacks Research downgraded shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cinemark currently has an average rating of “Moderate Buy” and a consensus price target of $34.58.

View Our Latest Research Report on CNK

Cinemark Trading Up 0.3%

The firm has a market cap of $3.49 billion, a PE ratio of 26.47 and a beta of 0.98. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. The company’s 50 day moving average price is $30.01 and its two-hundred day moving average price is $27.69.

Cinemark (NYSE:CNKGet Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm had revenue of $643.10 million for the quarter, compared to analysts’ expectations of $632.74 million. During the same period in the prior year, the firm posted ($0.32) earnings per share. Cinemark’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that Cinemark Holdings Inc will post 2.18 EPS for the current year.

Cinemark Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 28th. Cinemark’s payout ratio is 31.86%.

Institutional Investors Weigh In On Cinemark

Hedge funds and other institutional investors have recently modified their holdings of the business. Lavaca Capital LLC purchased a new position in Cinemark during the 4th quarter valued at $133,045,000. Orbis Allan Gray Ltd increased its stake in Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after purchasing an additional 3,563,810 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Cinemark during the fourth quarter worth $55,296,000. Victory Capital Management Inc. lifted its position in shares of Cinemark by 12,759.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,026,245 shares of the company’s stock worth $47,090,000 after purchasing an additional 2,010,488 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Cinemark during the third quarter valued at $33,390,000.

Cinemark Company Profile

(Get Free Report)

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.

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